- LaHaus, launched in 2017, disrupting Latin American housing market with digital end-to-end transactions
- Latest funding round raised $10M with contributions from big guns such as ex-Trulia and Zillow executives
Jumping through all the hoops to buy/sell a house in the US is a breeze compared to the hurdles of buying/selling a home in Latin America. Think interest rates ranging from 12% – 18%, no multiple listing services, and an average sale time of 12 months from listing to closing with COVID-19 lockdowns complicating the process.
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Enter LaHaus, a real estate startup launched in 2017 by co-founder and CFO Rodrigo Sanchez Rios in Bogota and Medellin, Colombia.
LaHaus’ initial market share of approximately of 4% of real estate transactions in Columbia and now its expanded market in Mexico City has grown to some 30% since the coronavirus outbreak and subsequent lockdowns. Sanchez Rios told InmanNews, “Because of COVID-19, consumers’ willingness to conduct real estate transactions online has gone through the roof. Fortunately we were in the position to enable that, and we expect to see a permanent shift online in how people conduct all, or at least most, of the home buying process.”
Others share Sanchez Rios’ expectations as well. In a recent round of Series A funding, LaHaus raised $10M in contributions under the leadership of Kaszek Ventures, Acrew Capital and NFX from the likes of Peter Flint, former CEO and Chair of Trulia, and Spencer Rascoff, co-founder and former CEO and board member of Zillow.
With that kind of brain power, experience and deep pockets behind it, it makes sense that LaHaus may just have the wherewithal to transform the Latin American housing market and its more that 186M existing housing units valued at some $10T into an “end-to-end real estate experience for the post-COVID Latin America,” as said by Sanchez Rios.
Thanks to InmanNews.